Derivados

inflationism

The U.S. is right now in the grip of the worst form: naive inflationism, which, as Mises says ‘demands an increase in the quantity of money without suspecting that this will diminish the purchasing power of the money.’

Notwithstanding all the passionate fulminations of the spokesmen of governments, the inevitable consequences of inflationism and expansionism as depicted by the ‘orthodox’ economists are coming to pass.

Mises fought inflationism, while a large majority of people were convinced that only a courageous expansion of money, credit, and governmental budgets could secure prosperity, full employment, and economic growth.